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Tag: advisory

Preparing Your Company for Sale (Even If You Aren’t Ready)

By William Haemmerle, Director of Transaction Advisory Services “Luck favors the prepared mind.” – Louis Pasteur Most business owners never really worry about selling their company until something happens – they decide to retire, there is a succession issue, or they receive an unsolicited offer.  Unless preparations have been made, none of these situations provide significant time to get the financial, operational, or legal house in order. If you fall in this category, it is...

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Managing Cash Flow During Crisis

By Travis Miskowitz, Manager, Wiss CFO Advisory Cash flow is the lifeblood of your business. During this (or any) time of crisis, it is imperative to keep an eye on your cash flow and regularly monitor your cash position.  Instituting effective cash flow management may be the most important action you can take to navigate through challenging times. The Wiss team has put together this list of recommendations to help monitor your progress: Monitor your cash flow regularly With the...

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New Jersey’s Changing Laws Regarding Independent Contractors

by Lisa Calick, SPHR New Jersey continues down the path of strengthening employee rights in the workplace, with recent legislation designed to help and protect workers. Last month Governor Murphy signed several bills into law to combat worker misclassification.   Below is a summary of newly enacted laws which New Jersey businesses should pay close attention to: Penalties for Misclassification New Jersey employers that misclassify workers as independent contractors may be liable for...

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A message to CEOs: When a CFO joins or leaves your company, it’s an ideal time to conduct a Business Process Review

by Paul Ursich A CFO entry or exit event, especially when it comes to mid-sized companies, is often an opportune time to conduct a Business Process Review. When a mid-sized company decides to bring on a CFO, it’s an indication of an important company life cycle shift.  Making the investment into this critical CFO role is a major one. It’s the perfect time to conduct a Business Process Review to provide valuable insight into this new hire. An immediate and independent review can drastically...

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HR & Payroll Year End Readiness

By Lisa Calick, Carolyn Hall, Floriana Allen, and Laura Melville The end of the year can be busy for many companies.  While December brings holiday parties and end-of-year celebrations, business owners should be mindful to make sure their HR and payroll departments are on top of timely actions in order to ensure a smooth transition into the New Year.  This checklist will help you get a jumpstart on your year-end planning. Human Resources Review your employees’ data to make sure...

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Four Strategic Decisions Holding Your Small or Mid-Market Company Back

By Joe Cicerone Updated 7/29/2019. Your business needs help. No, that doesn’t mean you’re doing anything wrong — or more wrong than anyone else trying to independently run a business.  But it would help to have an experienced CFO advisory group who could see your company’s challenges and opportunities from a fresh perspective. That’s because the management team of young and growing companies tend to see what they’ve always seen. They only know the one way of looking at their...

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Business Process Reviews-the First Step to Positioning Your MSO or DSO for Rapid Expansion

By Carolyn Hall, CPA, MBA Business owners with an entrepreneurial spirit welcome growth without necessarily focusing on the bottom line. MSO and DSO professionals who own and operate medical and dental service organizations that are experiencing patient gains and revenue growth can often lose sight of the details that go into back-end processes. Your accounting system can be your first and most visible sign of trouble. When billing is slow or error-filled, processes are broken, locations...

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Proper Management Gets Ambitious Projects Over the Finish Line

What could be more intimidating to a business than the prospect of launching a new ecommerce website? Or merging with a competitor? Or implementing a new business process management software solution that will touch virtually every department in the company? Lots of thoughts go through your head as you consider taking on a project that might take months or years, and will impact your company and your people for a long time to come. Just think of the prospects of establishing goals,...

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KPI Checklist for Evaluating Your CFO or Controller

By Paul Ursich, CPA Updated 7/29/2019. How do you grade the accomplishments of your Chief Financial Officer or Controller? Not only at review time, but whenever you’re thinking of the value this key management team member brings to your company. What are the key performance indicators, or KPIs, that really matter to you? Does your CFO or Controller know the KPIs that define success in your eyes? How could they know if you don’t? Here’s what to do: For starters, review the job description...

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Ideal Minimum Requirements for Your Accounting Department

One of the most common causes of chronic problems in accounting departments is having the wrong people on board – or the right people in the wrong positions. In other words, things can go terribly wrong when the education, work experiences and career trajectories of your personnel do not match up with your expectations. With that in mind, here are some of the ideal minimum requirements for business process optimization you should look for under most circumstances during your...

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